Q3 2025 Enity Holding AB (publ) Earnings Call Transcript
Key Points
- Enity Holding AB (CHIX:ENITYs) reported a strong third quarter with a double-digit loan book growth of over 10%, reaching SEK30.5 billion.
- The company achieved a 19% increase in adjusted operating profit, amounting to SEK163 million, driven by strong organic growth and stable net interest margins.
- Enity Holding AB maintained a low and stable net credit loss rate of 0.26%, showcasing effective risk management.
- The adjusted return on tangible equity was reported at 21.4%, indicating strong profitability.
- The company has successfully integrated acquisitions, such as Bank Two and ANO Finance, enhancing its market position and operational efficiency.
- The Nordic housing market remains subdued, particularly in Sweden, affecting overall market conditions.
- Despite strong growth, credit losses in Norway remain elevated due to high interest rates that have not yet translated into lower rates for consumers.
- The Finnish market is described as weak, with flat house prices, although Enity Holding AB has managed to post its first positive results there.
- The company faces challenges in expanding into new Northern European markets, with potential profitability taking several years to achieve.
- There is a noted volatility in market-to-market hedging derivatives, which could impact financial stability.
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Good morning, everyone, and welcome to, Enity Holding and this presentation of the third quarter 2025. My name is Bjorn Lander. I am the CEO of Enity, and I am here today together with our CFO, Pontus Sardal.
So, we will go through the presentation of the third quarter first, and if you have any questions, you can either use the chat or on mute at the end of this session. I'll start with a very short introduction to Enity. We are a leading, pure play, Nordic, mortgage bank, operating across the Nordics. We founded our business in Sweden more than 20 years ago, Greenfield, and have built up a very strong and robust business since then.
We took the concept to Norway in 2010, have Greenfield built up a strong business, in Norway, and finally, we launched our third market, Finland in 2020, have also built up now a very strong, and robust business in Finland.
We are operating, under three consumer brands. So, we have Blue Step Bank in all three markets, and then we have an
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